Greeneville, Tennessee-based Forward Air Corp. announced Tuesday that its subsidiary, Bensenville, Illinois-based Central States Trucking Co., has acquired Cudahy-based Triumph Transport Inc. and Triumph Repair Service Inc.
The purchase price was $10.1 million, and the transaction was funded by Forward Air’s cash reserves.
Triumph is a provider of intermodal, drayage and related services.
During 2015, Triumph generated approximately $13.4 million in revenue, according to Forward Air Corp. Triumph is expected to be accretive to Forward Air’s earnings in 2016.
“We are pleased to add Triumph to our Intermodal segment,” said Matthew J. Jewell, president of Central States Trucking. “Triumph is a high quality provider of intermodal services and a perfect addition to our Midwest operations. This is the fourth acquisition we have made towards executing our plan to grow our intermodal capabilities and footprint.”
